Eurozone Economy Struggles: June's Stagnant Growth Unveiled
The euro zone economy stagnated for a second consecutive month in June, with minimal growth despite slight improvement in the services sector. Manufacturing remained stagnant. The Purchasing Managers' Index, a key growth indicator, hovered just above the neutral mark, indicating ongoing economic challenges within the bloc.
- Country:
- United Kingdom
The euro zone economy showed no significant growth for the second month in June, as revealed by recent data. The region's service sector improved slightly, but manufacturing remained stagnant, according to Monday's report.
The HCOB's preliminary composite euro zone Purchasing Managers' Index, compiled by S&P Global, stood at 50.2 for June, aligning with May's figure but falling short of the 50.5 expectation projected by a Reuters poll. This index is a key indicator guiding economic growth assessments.
While Germany shows cautious signs of improvement, France's economic pace lags. Despite a thirteenth consecutive month of overall demand decline, optimism among service firms increased, hinting at potential future recovery.
(With inputs from agencies.)
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